Minister for Health, Mike O'Brien said: "For months I have been concerned about the potential impact on patients’ health of a small number of medicines being sold abroad by speculators. It is unacceptable that people have had to wait longer than they should have to get their medication.

"I have made it very clear that it is a very few unscrupulous people that are putting profits before patients. Rather than selling drugs to NHS patients as they should, they are selling them abroad for greater profit.

"I am pleased that the different parts of the supply chain have come together to work with the Government to tackle this and the joint guidance we have already developed makes clear the legal and ethical duties on the supply chain as well as their consequences."

Dr Howard Stoate MP, Chair of the All-Party Pharmacy Group, said: “It is not acceptable for patients to be put at risk due to drugs shortages. Our priority is that patients can access drugs safely and efficiently and we are concerned by reports that people are unable to access important medicines. Community pharmacists play a crucial role in delivering medicine and key health services to communities across the UK, but this role is now being threatened. Instead of caring for patients, pharmacists are having to dedicate more and more time chasing after medicine.

“We are delighted see that, following our recent investigation into drug shortages, Mike O’Brien has prioritised this issue and is working towards a collaborative solution. Clearly what we need from this summit is a Memorandum of Understanding from all members of the supply chain not to knowingly remove medicine from the supply chain, and to prioritise patients in the UK."

Sue Sharpe, Chief Executive of the Pharmaceutical Services Negotiating Committee, which represents community pharmacy in contract negotiations, said: "PSNC is aware of the scale of the problem, which we are monitoring closely.

"Pharmacists across the country are working around the clock to ensure patients' care is not compromised. Community pharmacies are having to spend significant amounts of time sourcing medicines for their patients - time that is not budgeted for in the pharmacy contract. Time spent chasing stock is time lost for patient care."